I want to remove a collection from my credit history, but I am kinda confused. When I got the bill was in Feb. 28, 2004 shortly after that I moved in Mar. 5, 2004 (barely paid in about a month ago). I was told that I could show the collections agency this and they could remove this from my credit history. Is this true????
2007-07-25 07:24:49 · 4 answers · asked by Anonymous in Business & Finance ➔ Credit
Yes. But they will not do that. If you by-passed the collections company they are not going to get paid, so there's no incentive for them to remove anything. You'll have to dispute it with the credit bureaus with a written letter of explanation.
2007-07-25 07:29:34 · answer #1 · answered by Anonymous · 2⤊ 1⤋
Here's the real deal...the previous answers are close, but no cigar.
Once you pay a collection, you should make sure you check w/ all three credit bureaus to make sure they update your information. The collection will not fall off your report, but it can at least be updated to say that is was "paid" or "settled for less than the amount owed". The collection agency does not have the power to remove it before the 7 year period is over.
Now, it will only stay on your report for 7 years TOTAL. So, 7 years after the date of your last delinquency is when it will fall off. Paying the debt does NOT re-age the account (to make it stay for 7 more years).
I hope that helps!
2007-07-25 14:42:55 · answer #2 · answered by YSIC 7 · 1⤊ 0⤋
I is always a gamble with the credit agencies. You can get on their websites where they provide standard dispute letters. Fill the forms and mail them into the three agencies with copies of any relevant information. By law, they are required to carry out and investigation with a short time and let you know the status of your dispute via mail. Note that most credit agency letters come in blank envelopes and can be easily mistaken for trash. If all else fails, seek professional help. Good luck
2007-07-25 14:35:20 · answer #3 · answered by dythaka 1 · 0⤊ 0⤋
If you've paid off the debt, your credit report will reflect that, but it will remain on your report for 7 more years (from the date paid). If you wanted it removed, you should have stipulated that in writing as part of the deal of paying off the debt.
2007-07-25 14:34:27 · answer #4 · answered by Anonymous · 0⤊ 0⤋